§ 34. Commander SOUTHBYasked the Minister of Labour what was the purchasing power of £1 sterling in 1924, 1925, 1926, 1927, and in the period of January to September, 1928, based on the Ministry of Labour's retail cost-of-living index, and compared with the value of the pound sterling in 1914?
§ Sir A. STEEL-MAITLANDCalculated in the ratio of the Ministry of Labour cost-of-living index-number, what is popularly known as the purchasing power of the pound sterling in 1924, as compared with 1914, was 11s. 5d. The corresponding 2115 figure for 1925 was 11s. 4d., for 1926 11s. 8d., for 1927 11s. 11d. and for 1928 (January to September) 12s. 1d.